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Economics of Enterprise
3. The Municipal Corporation of a small college town decides to regulate rents in order to reduce student living expenses. Suppose the average annual market-clearing rent for a two bedroom apartment had been Rs.10000 per month, and rents were expected to increase to Rs.15000 within a year. The Municipal Corporation limits rents to their current Rs.10000-per-month level. Draw a supply and demand graph to illustrate what will happen to the rental price of an apartment after the imposition of rent controls. Do you think this policy will benefit students? Why or why not?
Economics of Enterprise
1. Develop a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable.
a. Show the estimated regression equation.
b. Give an economic interpretation of the estimated intercept (a) and slope (b) coefficient.
c. Test the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., β = 0) between the variables.
d. Calculate the coefficient of determination.
e. Perform an analysis of variance on the regression, including an F-test of the overall significance of the results (at the 0.05 level).
f. Based on the regression model, determine the best estimate of paint sales in a sales region where the selling price is RM14.50. Construct an approximate 95 percent prediction interval.
g. Determine the price elasticity of demand at a selling price of RM14.50.
a. Show the estimated regression equation.
b. Give an economic interpretation of the estimated intercept (a) and slope (b) coefficient.
c. Test the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., β = 0) between the variables.
d. Calculate the coefficient of determination.
e. Perform an analysis of variance on the regression, including an F-test of the overall significance of the results (at the 0.05 level).
f. Based on the regression model, determine the best estimate of paint sales in a sales region where the selling price is RM14.50. Construct an approximate 95 percent prediction interval.
g. Determine the price elasticity of demand at a selling price of RM14.50.
Economics of Enterprise
Which product would be likely to be bought in the same quantity even if it doubled in price?
Economics of Enterprise
“Even if government spends its money on wasteful projects, it is still worth because it creates jobs.”
Economics of Enterprise
Which of the following statements reflects the broad economic goal of equity?
Congress increasing funding for space exploration in order to boost high-tech employment and develop new technologies
Removing funding from public universities that refuse to accept women, minorities, or economically disadvantaged applicants as students
The National Park Service maintaining a program of controlled fires to burn off undergrowth and keep wildfires from happening
The president speaking about economic opportunities in giving better trade status to countries with command economies
Congress increasing funding for space exploration in order to boost high-tech employment and develop new technologies
Removing funding from public universities that refuse to accept women, minorities, or economically disadvantaged applicants as students
The National Park Service maintaining a program of controlled fires to burn off undergrowth and keep wildfires from happening
The president speaking about economic opportunities in giving better trade status to countries with command economies
Economics of Enterprise
In 2011, Jean earns a salary of $150,000 and invests $20,000 for a 20% interest in a partnership not subject to the passive loss rules. Through the use of $400,000 of nonrecourse financing, the partnership acquires assets worth $500,000. The activity produces a loss of $75,000, of which Jean's share is $15,000. In 2011, Jean's share of the loss from the partnership is $7,500. How much of the loss from the partnership can Jean deduct?
Economics of Enterprise
other things remaining the same, what would happen to the supply of a particular commodity if the following changes occur,
a. the price of the commodity decreases.
a. the price of the commodity decreases.
Economics of Enterprise
what is gdp measured by?
Economics of Enterprise
If the cost per kilometre is $1.60, average utilisation 20 passengers per vehicle kilometre and average trip distance 10 kilometres what is the level of bus kilometres required to service this market?
Economics of Enterprise
If the cost per vehicle is $1.60, average utilisation 20 passengers per vehicle kilometre and average trip distance 10 kilometres
1 what is the level of bus kilometres required to service this market
2 what profits are being made
3 what type of profit is this normal or abnormal
4 what is the cost per passenger carried(as opposed to the cost per vehicle kilometre)
as this is perfect competition new firms may enter the market and compete this profits away what price therefore will ensure that only normal profits are made
1 what is the level of bus kilometres required to service this market
2 what profits are being made
3 what type of profit is this normal or abnormal
4 what is the cost per passenger carried(as opposed to the cost per vehicle kilometre)
as this is perfect competition new firms may enter the market and compete this profits away what price therefore will ensure that only normal profits are made
